A Quote by Henry Ford II
Profits are the ultimate measure of how efficiently we provide customers with the best products for their needs. Profits are required to survive and grow.
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Profits are the driving force of the market economy. The greater the profits, the better the needs of the consumers are supplied... He who serves the public best, makes the highest profits.
Big Pharma needs sick people to prosper. Patients, not healthy people, are their customers. If everybody was cured of a particular illness or disease, pharmaceutical companies would lose 100% of their profits on the products they sell for that ailment. What all this means is because modern medicine is so heavily intertwined with the financial profits culture, it’s a sickness industry more than it is a health industry.
A sustaining innovation makes better products that you can sell for better profits to your best customers.
Some companies simply aren't meant to be bigger than they are. They provide products and services that satisfy their customers in a way that pays the bills, produces reasonable profits, and allows them to keep their people employed and fulfilled. And there's nothing whatsoever wrong with that.
HCL is a corporation. It is for profits. A corporation stands for its shareholders, its profits, its employees, its discoveries, and its customers.
A huge part of Apple profits generated in Europe, in African countries, Middle East, and India were all booked in Ireland. And I think it is a very basic principle in taxation that your profits are taxed where the profits are generated.
The Business Profits Tax, which is imposed on in-state businesses, we need to impose the same thing on out-of-state businesses, because the way the Business Profits Tax is calculated, it is highly dependent on how much sales and profits are generated in-state.
The danger of tautological propositions is considerable in discussions of the concept of normal profits. Because supernormal profits seem to invite newcomers to an industry and sub-normal profits seem to drive away those who are in an industry, some writers are inclined to define normal profits as the earnings of the fixed resources in an industry which neither grows nor declines in size or number of firms. It should be clear that such a definition is useless: it muddles together attractiveness and actual afflux, desirbility of entry and ease of entry, zero profits and monopoly rents.
To the economically illiterate, if some company makes a million dollars in profit, this means that their products cost a million dollars more than they would have without profits. It never occurs to such people that these products might cost several million dollars more without the incentives to be efficient created by the prospect of profits.
The solutions the non-profits are trying to provide aren't keeping pace with the problems they're trying to survive.
Too many companies these days can't tell the difference between good profits and bad.... By now you're probably wondering how in heaven's name profit, that holy grail of the business enterprise, can ever be bad. Short of outright fraud, isn't one dollar of earnings as good as another? Certainly, accountants can't tell the difference between good and bad profits. They all look the same on an income statement. While bad profits don't show up on the books, they are easy to recognize. They're profits earned at the expense of customer relationships.
Japanese tend to put sales and market share first. They make many products with the aim of raising sales. But then profits decline, and companies find themselves falling into debt... I changed the mindset at Canon by getting people to realize that profits come first.
Having a higher purpose is more than just about profits. You actually end up making more profits in the long run because employees really are a lot more engaged and customers see the higher purpose in the company.
The role of business is to provide products and services that make people's live better - while using fewer resources - and to act lawfully and with integrity. Businesses that do this through voluntary exchanges not only benefit through increased profits, they bring better and more competitively priced goods and services to market. This creates a win-win situation customers and companies alike.
In order to generate extraordinary profits, you must have a focus that is beyond profits. You need to focus on how you serve your clients.
It's easy to see how non-profits become engrossed in catering to donors, which may or may not be the best thing at all times, while if a company is ultra-engaged with its customers, it's universally positive and helpful.
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